Refinancing saves local business £300,000
A crane hire business in the region is set to save over £300,000 over the next year, after it was refinanced by an international investor
Thanks to fund management group LSG, MSD Industrial will now be able to grow its business organically.
Patrick Leoni Sceti from LSG commented: “LSG is very excited at the opportunity to participate in MSD’s ambitious expansion plans in the region.
“The Company’s experienced management team, now complemented by our financial expertise, is well positioned to take its business to the next level and we see the MSD group as an ambitious organisation growing into one of the leading players within the North East crane hire market.”
MSD partnered with LSG on the basis of its good track record of advising and investing in the access industry. Using the expertise LSG can provide, the Darlington and Newcastle based company will also now be able to support a new spending programme, as well as improvements in cash flow and working capital.
Gary Stephens, managing director of MSD, welcomes the support of LSG commenting:
“MSD required clear leadership on the financial side of the business and together with a significant equity injection, LSG’s involvement will help the business achieve its goals to expand the Company’s operations and grow its fleet.”
This was posted in Bdaily's Members' News section by Ruth Mitchell .